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Monday, December 27, 2021

Global Lithium Compound Market to be Driven by the Growing Electronic Devices Industry in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Lithium Compound Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global lithium compound market, assessing the market based on its segments like type, end use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2016-2026)

  • Historical Market Size (2020): 299,640 Tons
  • Forecast CAGR (2021-2026): 7.5%
  • Forecast Market Size (2026): 462,435 Tons

Portable electronic devices such as electric vehicles, cameras, pacemakers, smartphones, and watches use lithium-ion batteries. In emerging countries such as China, South Korea, India, and Brazil, rising market demand for these devices has boosted demand for li-ion batteries. Since lithium compounds are used in the manufacture of li-ion batteries, this is a significant growth-inducing factor. Moreover, major building upgrades, and new housing developments are pushing up demand for glasses and ceramics, impacting the market for lithium compounds. Over the forecast period, the industry's appetite for lithium compounds is expected to be aided by a shift towards electronic vehicles rather than petroleum-based vehicles, which in turn will drive the growth of the lithium compounds market.

Industry Definition and Major Segments

Lithium compounds are used in the manufacturing of lubricants and greases, the synthesis of vitamin A, the synthesis of organic compounds, silver solders, underwater buoyancy devices, and batteries, as well as in the primary aluminium production industry, rocket propellants industry, nuclear industry, and pharmaceutical industry.

Explore the full report with the table of contents@

The market is divided on the basis of type into:

  • Lithium Carbonate
  • Lithium Hydroxide
  • Lithium Concentrate
  • Lithium Metal
  • Lithium Chloride
  • Butyllithium
  • Others

On the basis of end use, the industry is segmented into:

Regionally, the market can be classified into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

A favourable market outlook is being created by a rapid growth in technological improvements for the manufacturing of high-efficiency batteries. Other factors driving market growth include the increasing usage of lithium compounds in the healthcare industry and major investments in infrastructure development. The market is growing due to an increase in demand for consumer gadgets powered by lithium-ion batteries, such as mobile phones, cameras, computers, and power tools. Lithium compounds can extend the life of items by increasing surface tension, resisting thermal shock, and boosting mechanical strength. The growing international pressure to switch to clean energy and avoid dangerous environmental changes is expected to push developed and developing countries to adopt electric vehicles, which will produce large demand for lithium-ion batteries throughout the forecasted period.

Key Market Players

The major players in the market are Albemarle Corporation, SQM SA, and FMC Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

Media Contact

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Contact Person: Sofia Williams, Corporate Sales Specialist – U.S.A.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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